(Vienna/Zagreb) Today, the Croatian Traded Index (CROX) was launched and now Wiener Börse covers the Croatian capital market with its index family. CROX is the fourth Southeast European Index of Wiener Börse in addition to the ROTX (Romania), the SRX (Serbia), and the multi-country index SETX (Bulgaria, Croatia, Romania, Serbia, Slovenia). Just like the other indices, the CROX index is a capitalization-weighted price index that is calculated and published in real-time by Wiener Börse in Croatian kuna (HRK), EUR and USD. The Croatian Traded Index contains the seven most actively traded and highly capitalized stocks listed on the Zagreb Stock Exchange as of today: INA – Industrija Nafte, Privredna Banka Zagreb, Ericsson Nikola Tesla, Adris Grupa, Podravka, Koncar Elektroindustrija and Dalekovod. The weighting of the individual stocks in the index is limited to 25% of the total index capitalization.
“We now calculate a total of 23 indices including the CROX, 17 of which focus on the region of Eastern and Southeast Europe,” said Michael Buhl, Joint CEO of Wiener Börse AG, explaining the significance of the (South) Eastern European indices for Wiener Börse. “Wiener Börse enjoys a global reputation as an index expert and the largest index customers include customers from Great Britain and Germany. Worldwide, over 80% of all structured products relating to Eastern and Southeast Europe are based on the indices of Wiener Börse. The CROX has been designed as a tradable index that can serve as an underlying for standardized derivatives (futures and options) as well as for structured products. We decided to calculate the CROX because we strongly believe in the potential of the Croatian capital market. Additionally, several of our index clients expressed an interest in a Croatian country index. Like Serbia and Romania, Croatia is an exciting country with above-average economic growth and a dynamic capital market.”
The starting value of the CROX was defined with 1,000 index points as of 3 January 2005 and the closing price on 4 June 2007 was at 2.761,47 points (CROX HRK), which means an increase of 276,% in just two years. The CROX is calculated in real-time on the trading days of the Zagreb Stock Exchange. The calculation parameters are reviewed on a quarterly basis, and the index composition is reviewed – and adjusted as necessary – on a bi-annual basis in March and September.